Vietnam’s oil and gas sector is facing a nearly 50% decline in production over 14 years, with several major fields nearing depletion. Experts predict the situation will improve with a total investment of $25.7 billion planned for oil and gas projects from 2025 to 2030. The government has enacted several resolutions to boost investment toward ensuring national energy security. Contrary to concerns that the political situation in Venezuela might impact oil prices, analysts believe this will be limited, given Venezuela currently contributes less than 1% of global supply. Global demand is forecasted to increase slowly, with oversupply continuing to apply pressure on oil prices in the near future. Domestic oil companies like PVS, PVD, and GAS are expected to benefit from substantial projects and better market conditions.
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